Just bought into this share, I think its cheap at the current price. I think in time this could be another BUR.

Anyone else holding this and what are other peoples opinions on it?

Thanks

Looks like a strong close!

expect this july update to take it above 200p and if they up the reserves based on the viagra field could see some more gains hang on tight

EEN issued a trading update around this time last year. If it comes then we can expect a highly bullish statement. The price of crude has never been higher and with EENs production going up and up, this could be a golden opportunity to buy.

25/06/04 12:38 Emerald Energy PLC (EEN) Trading Update RNS

Gervis2, Agree with you about news update,Vigia2 was only 1000ft from completion
back end of May. Sometime in the very near future the result is expected
(proven field, so proablabilty of success very high).Along with completion of rework to Campo Rico wells 2 & 3 should increase output above 6000bod, more than doubling the present quoted figures.
cyril

Emerald Energy PLC
28 June 2005


Emerald Energy Plc ('Emerald' or the 'Company')

Operations Update

Emerald is pleased to provide the following update:

The Company has completed the drilling of Vigia #2 in the Campo Rico block. This
appraisal well was drilled from the Vigia #1 well location and deviated to enter
the target oil reservoirs almost 3000 ft to the southwest. The well was drilled
to a total depth of 11,680 ft and has now been completed for production.

The Saxon Energy Services (ex Parker Drilling) Rig 222 is now moving to drill
Vigia #3, a second appraisal well also to be drilled from the Vigia #1 location.

Temporary production facilities are being constructed at Vigia and it is
expected that approval for long-term production tests of Vigia #1 and Vigia #2
will be obtained shortly, which will permit early production from these wells.
The long-term production tests will be carried out using hydraulic downhole
pumps (jet pumps) as currently used at the Company's Campo Rico and Gigante
fields.

Since its discovery by Emerald in 2004, the Campo Rico field has produced over
500,000 barrels of oil and the Company is preparing a Commerciality Application
to present to Ecopetrol with respect to the field. A similar Commerciality
Application for the Vigia field will be prepared once the preliminary results
from the long-term production tests of the Vigia wells are available.

The workovers at Campo Rico #2 and #3 are currently being carried out and
production from these wells is anticipated in July as previously indicated.

Alastair Beardsall, Emerald's Chairman, said: 'The development of the Campo Rico
and Vigia fields is set to give the Company a further increase in its oil
production and is evidence of Emerald's commitment to its fast track exploration
and production programme in Colombia.'

gervis2 Just beat me to it, expected, but a great result all the same.
with vigia3 about to be spudded, mid august we could be seeing upwards of
7500bopd and at todays prices this company is seriously undervalued.
not to late to get in.
cyril

I have moved from EEN to Granby Oil and Gas (GOIL) because I believe there is more room to move in its share price than EEN. Also GOIL will announce news this week on its first Well in the north sea should be good news given this companies reputation.

Taken profits on EEN and wasnt about to lose them again like has happen so many times with this share. I still belive its a great company though and might get back into it when the price comes down to 1.60 which i think it will do as it always does.

and down goes she goes, this just seem to keep the gains very quickly will end up at the end of the 1p up.

EEN made 3.6 million on turnover of 1300 bpd. With production now above 3 times that level and the price of crude predicted to hit $69 in the short term, then can we expect profits of around 15-18 million for the year?

went up 11p now its 7p..........down, down, down, down.

Could be another field of operations for SEY or EEN!

GENEVA (AFX) - Kazakhstan's energy minister Vladimir Shkolnik said he hoped to export 130 mln tonnes of crude oil mainly to Europe within a decade as production is tripled every year.

Speaking on the sidelines of a regular United Nations meeting on Caspian Sea energy supplies, Shkolnik said the country currently had about 8 mln tonnes on tap but reiterated that it was aiming to expand that to 150 mln.

'In 10 years we are aiming to deliver to Europe, maybe not only to Europe, 130 mln tonnes of crude oil per year,' he told journalists.

Kazakhstan is regarded in the West as a potential alternative to traditional producers in the Middle East.

The Kazakh government is also aiming to put some of the blocks of offshore oil reserves it holds in its part of the Caspian up for tender open to foreign companies next year, the energy minister indicated.

'Part of the blocks will be developed together with our national oil and gas company. Part of the blocks will be put on open tender. This procedure I hope will start next year,' Shkolnik said.

Syd een finished up 13.5p on the day, with any decent coverage in
tomorrows papers could break 2 barrier again.
Best wishes with goil but prefer a proven producer.
Interesting article on chinas growing demand for oil.
http://www.resourceinvestor.com
cyril

yeah but its nearly down 5p this morning.

glad i took profits when i did.

Current MM tree shake, stick with these as improved production rates for this year, sp will rise accordingly.

SP also reacting to retracement on oil price below $60 - all short term stuff - stick with it.

sd

adiem - 28 Jun'05 - 10:55 - 5590 of 5773


I have just bought another 77,500

The order has been open for 3 days now and has been filled primarily by EVO.

I am extremly bullish on these and will be re highhlighting them on my next newsletter.

Fundamentals alone should give this a minimum value of 267p according to my valuation model, which is why I am currently increasing my holding.

Another thread here refers to this share being 10 in 12 months, that seems hopeful, I would suggest somewhere between 5 and 7 is more realsistic.
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The mms walked Emerald down to fill the above order which took 3 days to fill.

looks like they have another to fill

EVO thought they were worth 232p based on 5000 bpd average for 2005 at $35 a barrel clearly plenty of upside as about to deliver 6-7000 bopd in july and oil prices will be $60 before to long and the winter price could be 70-80 if not careful have bought more recently but stuck with some where I paid over 200p
can see 300p before too long but not getting enough exposure anywhere

sharemagazine have mentioned EEN 3 time in 15 months if you search the archive
and they didnt even both to mention them after the april results I think there
is some sort of conspirecy ???

This was the initial flow rate from the new Vigia field announced back in April. The significant bit was "440 bpd under natural flowing conditions".

Drilling news prompts Emerald spurt
Date: 13 April 2005

LONDON (ShareCast) - An upbeat drilling report had oil explorer Emerald Energy gushing higher today after reporting good news from its Vigia exploration well in Colombia.

Under natural flowing conditions the well produced at a rate of 440 barrels of oil per day from the Une sand and at a rate of 260 bopd from the Lower Gacheta sand, the group said.

Emerald will now seek approval for a long term production test of Vigia that will permit early production from the well, it added.

Chairman Alastair Beardsall said, The discovery of the Vigia field, just 11 km away from the producing Campo Rico field, will give Emerald a significant increase in oil production.